We in the tax and estate planning world love acronyms so no surprise the governments newest tax law is called “PATH” which stands for Protecting Americans from Tax Hikes act of 2015.   I like to blog about estate taxes primarily but as the focus in estate planning moves toward incomes taxes I like to […]

HOT OFF THE PRESSES:  The Internal Revenue Service has released a draft of a new Form 8971 for reporting basis information in accordance with new IRC section 6035 for assets held by a decedent and reported on a federal estate tax return (Form 706) filed on or after August 1, 2015. The form says it is to […]

The IRS recently released the tax adjustments for 2016. As our firm focuses on gift and estate tax planning I wanted to share the relevant numbers with you. The annual gift exemption remains at $14,000. As a reminder that is the amount each person can give away, each year, to any individual, and all without […]